As of September 2014, Forbes has estimated his net worth to be about $8.7 billion. Forbes estimated the Newhouse family’s net worth at $18.5 billion in 2016, making it the country’s 11th-richest. A payment, referred to as an advance in the publishing industry, is paid to an author by a publisher before publication of the author’s book. Sam Newhouse originally founded the family business, Advance Publications. In the spin-out that occurred in early 2012, Advance voluntarily reduced its sole ownership to that of a partial owner in order to put ownership in the hands of current and future employees. Advance. Reddit has 3 sets of shareholders: The largest shareholder is still Advance Publications. Advance Publications. It is a US based media company founded by his father in 1922. Net Worth: $18.5B Family Business: Advance Publications Industry: Publishing Prominent Member: Donald Newhouse. Through this media company, Donald co-owns the Conde Nast, […] The Newhouse family is one of America’s oldest and most powerful publishing and media families. A standard guideline for an advance is the amount the book is estimated to earn in royalties during the first six to 12 months after publication. The Firm owns and invests in companies across media, entertainment, technology, communications, education, and other promising growth sectors. Advance Publications, Inc. is a private, family business. Donald Edward Newhouse is an American business tycoon, better known as the heir, co-owner, and President of Advance Publications. Headquartered in New York City, it is one of the biggest private companies in the country. Its portfolio of newspapers includes The Star-Ledger (New Jersey), as well as weekly titles published by American City Business Journals. Source of wealth: Advance Publications. The deal, which The Wall Street Journal estimated is worth nearly $1.75 billion, is expected to close in the second quarter of 2019. Newhouse founded the publishing giant in 1922, per Bloomberg. Net worth: $31 billion. If the print side of Advance Publications is on tenuous footing, the situation is less dire for the Newhouse family. Family patriarch S.I. The parent company, Advance Publications, this week plunked down $1.75 billion to buy Turnitin, a profitable, plagiarism-detecting software outfit in the education field. Donald Net Worth: $11.1 billion. Advance Publications is a leading newspaper and magazine publisher with several dozen titles and owns many digital entertainment channels. The second-largest set of shareholders are Reddit employees. Advance’s mission is to build the value of the company over the long-term by fostering growth and innovation across a diversified portfolio which includes media, communications, technology, education, and other promising sectors. 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